TPG, Leonard Green’s J Crew could be worth $5bn in mooted IPO

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clothing-scarves-2US private equity houses TPG Capital and Leonard Green & Partners are reportedly talking to banks about running an IPO of clothes seller J Crew later this year.

The business could be worth up to $5bn according to Bloomberg, almost twice the $2.64bn the pair’s buyout deal came to when they took control just over three years ago.

A listing in the US is being investigated, Bloomberg said, citing people familiar with the matter.

J Crew has more than 450 stores and about $2.4bn in annual sales.

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